Summit Securities Group LLC Takes $41,000 Position in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Summit Securities Group LLC purchased a new position in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,600 shares of the investment management company’s stock, valued at approximately $41,000.

A number of other hedge funds have also bought and sold shares of TPVG. Dynamic Technology Lab Private Ltd bought a new position in TriplePoint Venture Growth BDC during the 3rd quarter worth approximately $83,000. BNP Paribas Financial Markets lifted its stake in TriplePoint Venture Growth BDC by 214.3% during the third quarter. BNP Paribas Financial Markets now owns 13,200 shares of the investment management company’s stock worth $93,000 after purchasing an additional 9,000 shares during the last quarter. Townsquare Capital LLC boosted its holdings in TriplePoint Venture Growth BDC by 12.3% in the third quarter. Townsquare Capital LLC now owns 75,845 shares of the investment management company’s stock worth $535,000 after purchasing an additional 8,311 shares during the period. Paloma Partners Management Co bought a new stake in TriplePoint Venture Growth BDC during the third quarter valued at $282,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of TriplePoint Venture Growth BDC during the third quarter worth $99,000. 12.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TPVG shares. Piper Sandler boosted their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Wells Fargo & Company lowered TriplePoint Venture Growth BDC from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $7.50 to $6.50 in a report on Monday, March 17th. Finally, Compass Point cut their price target on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.45.

TriplePoint Venture Growth BDC Trading Down 0.5 %

Shares of NYSE:TPVG opened at $7.10 on Monday. The firm’s 50 day moving average is $7.67 and its two-hundred day moving average is $7.47. The firm has a market capitalization of $284.77 million, a P/E ratio of 33.79 and a beta of 1.90. TriplePoint Venture Growth BDC Corp. has a 52 week low of $6.44 and a 52 week high of $9.73.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, March 5th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The business had revenue of $25.75 million during the quarter, compared to analyst estimates of $26.68 million. Analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 16.91%. The ex-dividend date is Monday, March 17th. TriplePoint Venture Growth BDC’s payout ratio is currently 146.34%.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.